Financings:NeutralIn May 2018, it raised $5 million by selling convertible preferred stock to an institutional investor

Risks:HighThe risks of investing in any cannabis company are currently high given the newness of the market. The risks of investing in this company are very high, since it does not yet have a product or any revenue or income.

Recommendation: WeakThis is a very early stage pharma company. While it may have a good market, multiple myeloma, there are many drugs currently prescribed for Multiple Myeloma. Many of these chemotherapies have bad side effects. The tests so far for OWC’s drug are successful, but very preliminary, and we do not yet see enough evidence that it will have a successful product to get excited and buy shares.

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Risk of Prosecution for Marijuana-Related Companies. If you are considering investing in a company that is connected to the marijuana industry, be aware that marijuana-related companies may be at risk of federal, and perhaps state, criminal prosecution. The Department of Treasury recently issued guidance noting: “[T]he Controlled Substances Act (“CSA”) makes it illegal under federal law to manufacture, distribute, or dispense marijuana. Many states impose and enforce similar prohibitions. Notwithstanding the federal ban, as of the date of this guidance, 20 states and the District of Columbia have legalized certain marijuana-related activity.”